Biden pledges record $US4 billion to World Bank fund for poorest countries
Washington DC, US Reuters US President Joe Biden pledged a $US4 billion US contribution to the World Bank’s International Development Association fund for the world’s poorest countries, two sources with knowledge of the commitment said on Monday. Biden announced the US pledge during a closed session of the Group of 20 summit in Rio de […]
World Bank says 26 poorest countries in worst financial shape since 2006
Washington DC, US Reuters The world’s 26 poorest countries, home to 40 per cent of the most poverty-stricken people, are more in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks, a new World Bank report showed on Sunday. The report finds that these economies are poorer today […]
Debt burden threatens poor countries’ development goals, UN official says
Hamburg, Germany Reuters The world’s poorest countries are having to prioritise debt service over investments, United Nations Development Programme administrator Achim Steiner said on Monday, scuppering progress towards their Sustainable Development Goals. Speaking at an event in Hamburg, Steiner said the financial crunch meant countries worldwide were struggling to meet the goals – a set […]
Libyan court jails 12 officials over deadly floods
Benghazi, Libya Reuters A Libyan court has jailed 12 officials in connection with the collapse of a series of dams in Derna last year that killed thousands of the city’s residents, the Attorney General said on Sunday. The officials, who were responsible for managing the country’s dams, were sentenced to between nine and 27 years […]
African faith leaders call for debt forgiveness in 2025 Jubilee year
Nairobi, Kenya RNS African faith leaders are calling for debt forgiveness as the Vatican’s 2025 Jubilee year approaches to help their countries tackle growing economic crises. “We urgently need a new debt jubilee to bring hope to humankind, and to bring the planet back from the brink of becoming uninhabitable,” said 27 religious leaders from […]
Myanmar poverty deepens, economic growth stagnant, World Bank says
Reuters Poverty in Myanmar is more widespread than at any time in the last six years and growth in the conflict-torn nation is likely to remain at a measly one per cent in the current fiscal year with little respite in sight, the World Bank said on Wednesday. Escalating violence, labour shortages and a depreciating […]
World Bank says 1.8 million additional Ukrainians in poverty as Russia’s war drags on
Washington DC, US Reuters The number of Ukrainians living in poverty has grown by 1.8 million since 2020, bringing the total to about 29 per cent of the population as Russia’s 2022 invasion continues to ravage the country’s economy, the World Bank said in a report. The situation would be much worse if Ukraine had […]
World Bank sounds alarm on “historical reversal” of development for poorest nations
Washington DC, US Reuters Half of the world’s 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank said in a report on Monday. The differential between per capita income growth in the poorest countries and the […]
Global child mortality rates dropped in 2022 but progress slow, UN says
London, UK Reuters The number of children globally who died before their fifth birthday dropped to a record low of 4.9 million in 2022, but that still represents one death every six seconds, according to new United Nations estimates. While the mortality rate for under-5s has roughly halved since 2000, the world is still behind […]
World Bank, Gates, UN pledge close to $US600 million to end cervical cancer
London, UK Reuters Global health donors pledged nearly $US600 million towards eliminating cervical cancer on Tuesday, at the first global forum dedicated to fighting the disease. The World Bank, the Bill & Melinda Gates Foundation and the UN children’s agency UNICEF said in a joint statement that the funding would go towards expanding access to […]